5 Of Toronto's Top Q4 Industrial Lease Deals
The GTA industrial market had 2.8% availability in Q4, with 881k SF of net absorption, according to figures from Colliers International. Here are five of the region's biggest lease deals.
1. 8875 Torbram Road (Brampton)
Node: GTA West
Lease size: 445k SF
Worth noting: The 900k SF LEED Gold-certified facility — with 38-foot-clear ceiling heights — is among Canada’s largest available DCs. While GTA West had 446k SF of new supply in Q4, it was readily absorbed, Colliers said.
2. 10 Canfield Drive (Markham)
Node: GTA North
Tenant: Kubota Canada
Lease size: 289k SF
Worth noting: For GTA North, one of the region’s tightest industrial markets (2.4% availability), it is all about Vaughan, which had over 172k SF of positive absorption in Q4 — second-most in the GTA.
3. 95 Market Drive (Milton)
Node: GTA West
Size: 237k SF
Worth noting: GTA West had the region’s highest net absorption in Q4 (637k SF), driven in large part by the GENCO deal. Asking net rent continues to rise in GTA West — it is currently $6.15/SF.
4. 200 Montecorte St. (Whitby)
Node: GTA East
Tenant: SNC Lavalin
Size: 178k SF
Worth noting: GTA East had the largest availability rate decrease (to 2.9%), with absorption up 110k SF in Q4, and 200 Montecorte was a key contributor. Ajax, Pickering and Whitby’s average asking net rental rates increased from Q3.
5. 1271 Tapscott Road (Scarborough)
Node: GTA Central
Tenant: Technicolor Canada
Size: 158k SF
Worth noting: This was GTA Central’s largest Q4 deal. The node continues to have the region’s lowest availability rate (1.7%) and saw the smallest increase in rental rates versus Q4 2015: $4.65/SF vs. $4.62/SF.